According to Bloomberg, MultiChoice will be listed on the Johannesburg Stock Exchange (JSE) from February 27 this year. The company which is a subsidiary of Naspers – Africa’s most valuable company — will be trading independent of its parent company. It will be listed under the broadcasting and entertainment sector of the stock exchange.
Since MultiChoice’s shares will be unbundled from Naspers’, shareholders will hold direct interest in MultiChoice rather than through Naspers. This move will create more value for shareholders and enable Naspers focus on investing in consumer internet companies around the world.
“Naspers has evolved in recent years into two distinct business lines: a high-growth global internet business with international focus; and a cash generative, African video entertainment business. The Naspers board of directors, as part of its continuing review of the Naspers business operations, has determined that, given their divergent paths, there is no longer a strategic rationale for keeping both business lines together and there are no synergies between the two businesses,” reads a notice Naspers sent to its shareholders yesterday.
The unbundling was first announced last September by Naspers. The new Multichoice Group will include “MultiChoice South Africa Holdings and its subsidiaries, associates and/or affiliates, MultiChoice Africa Holdings and its subsidiaries, associates and/or affiliates), MultiChoice Botswana, MultiChoice Namibia, NMS Insurance Services SA, the African division of Showmax and its subsidiaries, associates and/or affiliates, Irdeto Holdings and its subsidiaries, associates and/or affiliates) and Irdeto South Africa.”
Newsbites: Spotify in Africa
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.